NSSA hunts for new chairman to succeed Dr Percy To...

NSSA hunts for new chairman to succeed Dr Percy Toriro

Zim Now Writer

State-owned pension fund, the National Social Security Authority, has started its hunt for a new chairman following the resignation of Dr Percy Toriro, who stepped down, citing his prolonged physical absence from the country, according to sources privy to the developments.

“His offer was accepted and the process of finding someone to replace him has already started,” said one source, who declined to be named as he is not allowed to talk to the press.

“The feeling is that someone has to come from outside; to come and sanitise the current fractured board which seems to be pursuing personal interests rather than saving the interests of the organisation and of the pensioners at large,” added the source.

Another source said; “to have someone within the board will not change anything, especially at a time the board seems to be so divided. There is a need for a strong character; but of course, that might be very difficult because of political influence”.

Dr Toriro, who has been out of the country since October last year was not available for comment.

NSSA is one of the biggest investors on the Zimbabwe Stock Exchange, with assets of more than US$1 billion.

NSSA has on several occasions helped government out with loans.

Dr Toriro is the fifth board chair to leave the graft-ridden institution in seven years.

Similarly, the organization has had five general managers during the same period, most of whom were fired for alleged looting of public funds.

Since long-serving general manager James Matiza left NSSA in 2015, the majority of his successors were booted out for their involvement in corrupt deals, with executives, board members and government ministers being caught up in the net.

The report of an internal audit reportedly commissioned by NSSA on the implementation of the resolution to award its doctors a monthly retention allowance of US$3 600 acknowledged that the organisation had been battling a toxic environment and bad publicity “for some time now and it is about time that normalcy be restored”.